What’s better than receiving demand for your trinkets from other players within game? Having demand for your virtual items outside of the game. This means that all those hours that you spent playing video games can be fun and also be very profitable according to DMarket.
How, you ask?
Digital currencies provide the ability for gamers world-wide to purchase and sell their in game trinkets and goods, for real goods and assets in the real world.
By bringing together various games across the world, and integrating other platfroms through the power of blockchain, DMarket is set to pave the way for a significant open market for in game trinkets to be traded as actual real world commodities.
The nuts of bolts of it
DMarket is offering to facilitate virtual transactions with the use of DMarket tokens and smart contracts. Gamers bring their in-game currencies, goods and treasures and can become a DMarket citizen, a member of a new world economy. DMarket tokens will be distributed through both pre-token sales and crowd sales.
The current situation
When you are in a game, you usually have the opportunity to collect coins and increase your wealth, you usually increase in wealth by staying alive, fighting off evil and going through arduous and rigorous journeys to find more and more valuable treasures. The problem is after the game stops, so does the value of these treasures that you worked so hard and searched far and wide for. That’s kind of unfair. Why should it be this way? You did the work right? You should be able to profit. Well, there just might be an answer to your problem.
The goal of DMarket
The team over at DMarket believe, at their core, that you should be able to profit from your time spent acquiring and collecting valuable treasures. DMarket is betting that there is indeed and an fundamental value to these virtual treasures and that they can be monetized. This thesis rests on the main point that after the game ends that there is still significant interest by the players or potential players in the in game treasures. The other assumption is that many would want to part with their valuable ETH, BTC or LTC for these trinkets and treasures.
The brave new world
Betting that the various gamers across the world are interested in this might be bold or it might be deadly accurate if there is various examples of great demand for in game trinkets.
If they are correct they will be tapping into an untapped market, discovering and bringing to light the many markets’ of in game goods for currencies. Potentially reaching a billion plus gamers and fulfilling their needs.
Your in game time will have much more value and you may receive more from it instead of fun, team building, interaction and other things. Place actual value on your in game rare treasures may have a boost to the gaming industry as well.
If DMarket does take off though, does gaming become less fun oriented and more like work? Only time will tell.
Just like the Facebook developer platform which incentivizes developers to use facebook and build on top of it targeting facebook users and using it’s benefits. Game developers can also, in a way, build with DMarket, they can add their games to let their players exchange on DMarket as well. This would give the developers of games a possible increased audience and DMarket an increase in users as well.
The company expects to launch and MVP that will already be connected to video games and the blockchain that will make virtual items real. The company is expecting to gain revenues shortly and is aiming to provide confidence to it’s investors by meeting it’s milestones.
They have birthed the idea early this year, they did their market research early this year as well and have started building interest the in third quarter of this year, they aim to close this year with the launches of the pre-token and crowd sales and test out their DMarketAlpha version (testnet).
Pre-Token & Token Sale
DMarket has announced a pre-sale of it’ tokens which will have a fairly short time frame, it started on October 30th and will close on Novemebr 3rd. Their tokens are the only ones to be used in their marketplace.
Their crowd sale or ICO will take place soon after the pre-sale and will launch on November 3rd going through to November 17th. The accepted currencies for exchange will be Ethereum, Bitcoin and Litecoin.
The CEO and founder of DMarket is Volodymyr Panchenko, he’s founded skins.cash in the past, the 2nd biggest virtual items marketplace (12m items sold over the past year). He also been the #1 private merchant of digital games in the world (15m games sold over the past 5 years through Ebay, G2A, Kinguin). He’s also founded Suntechsoft and has generated $50m in total revenue.
Andiy Khavryuchenko – The developer of Dash cryptocurrency (world’s top 8, market cap of $1.4B)
Brian Kerr a board advisor who has been in the eSports industry and is an investor. They also have partnered with GSC game World and Tatem Games who are collaborators and supporters of the project.
Another noteworthy individual on their team is Oren Klaff, founder of Intersection Capital who is also on the advisory board.
Find more information about DMarket, here.
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